Couple Runs Away With Traders’ Money In Breach of Trust; Cheques Bounce As Their Cooperative Society Closes Overnight!

Ujjain (Madhya Pradesh): A couple in Ujjain ran a cooperative society has been accused of duping traders in the city.

The Central Kotwali police registered a case of 'breach of trust' against Shailendra Malviya and his wife, Jyoti, after their alleged scheme to collect money from shopkeepers came crashing down.

According to information, Kavindra Burman, a grocery shop owner at Maksi Road, shared his ordeal with the police. It all began in 2022 when Shailendra Malviya introduced himself as a collection officer of Shri Krishna Credit Cooperative Society Limited.

Promising attractive interest rates on daily deposits, he convinced Kavindra and his neighbor, Vikas Kushwaha, to invest in the scheme.

The traders eagerly handed over their money to Shailendra, expecting a solid return. But when the time came to claim their funds, they were given a cheque that bounced due to insufficient funds.

To make matters worse, when they approached Shailendra and his wife for their money, they were allegedly met with threats of false accusations and even death.

The couple, who used to reside in Ashok Mandi, quickly sold their house and disappeared, leaving the victims high and dry. Frustrated and cheated, Kavindra filed a case in court but couldn't find a resolution. The police are now on the lookout for the duo, who have been booked under multiple charges for their fraudulent actions.